Marathon Oil Corporation (NYSE:MRO) slid
0.24% to $33.23 after the company said this month that it earned $1 a share in
its third-quarter on an adjusted basis, ahead of analysts’ estimates of 94
cents a share.
Marathon
now expects production growth of 5% in 2011 and 2012, up from 4% in the current
year.
The
stock opened at $33.33 and went up more than 6% year-to-date.
Suncor Energy Inc. (USA) (NYSE:SU) fell 0.21%
to $32.83. The company said this month that its quarterly earnings jumped to
C$1.02 billion (US$1.01 billion), or 65 Canadian cents a share, from C$929
million, or 69 Canadian cents a share, in the same quarter last year. Suncor’s
operating earnings were 42 Canadian cents a share.
Analysts
polled by FactSet Research expected the company’s operating earnings to be 39
cents a share. Suncor also got a boost from advancing crude oil futures, which
rose 1.9% to trade at $86.33 a barrel on the New York Mercantile Exchange.
The
stock opened at $32.92 and traded within the range of $32.70-$33.60. The stock
went down more than 7% year-to-date.
EXCO Resources, Inc. (NYSE:XCO) added 0.49%
to $18.44. This month, the chief executive of Exco Resources Inc. has offered
to take the natural-gas and oil producer private for $20.50 a share,
representing a buyout premium of 38%, the company said Monday. Exco said it
plans to form a special committee of independent directors to consider the
proposal.
The
$20.50-a-share offer represents a “very compelling” deal “in the best interest
of the company and its public shareholders,” Miller said.
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